DICK'S Sporting Goods Issues 2018 Outlook - Quick Facts

RTTNews

Mar. 13, 2018, 07:45 AM

(RTTNews) - DICK'S Sporting Goods, Inc. (DKS) announced, based on an estimated 103 million shares outstanding, the company currently anticipates reporting fiscal 2018 earnings per diluted share of approximately $2.80 to 3.00. Consolidated same store sales are currently expected to be in the range of approximately flat to a low single-digit decline on a 52-week to 52-week comparative basis.

The company expects to open approximately 19 new DICK'S Sporting Goods stores and relocate approximately four DICK'S Sporting Goods stores in 2018. Eight of the new stores are expected to open during the first quarter. The company does not expect to open any new Field & Stream or Golf Galaxy stores in 2018.

On a non-GAAP basis, the company reported consolidated net income for the fourth quarter ended February 3, 2018 of $127.3 million, or $1.22 per diluted share compared to the company's expectations provided on November 14, 2017 of $1.12 to 1.24 per diluted share.

Net sales for the 14-week fourth quarter of 2017 increased 7.3% to approximately $2.66 billion. Consolidated same store sales decreased 2.0% on a 13-week to 13-week comparative basis compared to the company's guidance of a low single-digit decrease.